Introduction to Lean Startup
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This document provides an introduction and overview of the Lean Startup methodology. It discusses key concepts such as validated learning, building minimum viable products to test learning, and the build-measure-learn feedback loop. The goal of Lean Startup is to minimize the time and effort to collect validated learning from customers through frequent experimentation. This is done by developing an MVP, measuring customer behavior, tuning the product based on data, and deciding whether to pivot the concept or persevere.
Introduction to Lean Startup
- 1. Introduction to The Lean Startup Nawras Skhmot Co-‐founder & Lead Organizer Lean Startup Circle Stavanger Disclaimer:All content is based on Eric Ries book and presentations Stavanger
- 2. THE LEAN STARTUP -Eric Ries -Steve Blank
- 5. What is a startup? Entrepreneurs are everywhere “A startup is a human institution designed to deliver a new product or service under conditions of extreme uncertainty” -Eric Ries
- 6. STARTUP = EXPERIMENT What is a startup? Entrepreneurs are everywhere
- 7. STOP WASTING PEOPLE’S TIME Should it be built? Entrepreneurs are everywhere
- 8. Most Startups Fail Entrepreneurs are everywhere
- 9. Most Startups Fail Entrepreneurs are everywhere
- 10. • Father of scientific management • Standardize work into tasks • Compensate workers based on performance • ‘Great Man Theory’ “In the past, the man was first. In the future, the system will be first.” (1911) Who to Blame? Entrepreneurs are everywhere Frederick Winslow Taylor
- 11. Validated Learning Entrepreneurs are everywhere Entrepreneurship is management Innovation Accounting Build Measure Learn Lean Startup Principles
- 12. Practices and principles geared to the startup context of extreme uncertainty Parallel kind of Management Entrepreneurship is management
- 13. “A pivot is a change in strategy without a change in vision” The Pivot Entrepreneurship is management -Eric Ries
- 14. The Pivot: YouTube Entrepreneurship is management
- 15. The Pivot: YouTube Entrepreneurship is management
- 16. The Pivot: Flickr Entrepreneurship is management
- 17. The Premise of Lean Startup: If we can reduce the time between pivots We can increase our odds of success Before we run out of money Speed Wins Entrepreneurship is management
- 18. Validated Learning Entrepreneurs are everywhere Entrepreneurship is management Innovation Accounting Build Measure Learn Lean Startup Principles
- 19. Not to Justify Failure Validated Learning
- 20. ”…. is that version of a new product which allows a team to collect the maximum amount of validated learning about customers with the least effort” Minimum Viable Product Validated Learning -Eric Ries
- 23. In Lean Startup, the unit of value is learning, and everything else that does not contribute to learning is waste. Value vs. Waste Validated Learning
- 24. Validated Learning Entrepreneurs are everywhere Entrepreneurship is management Innovation Accounting Build Measure Learn Lean Startup Principles
- 25. Minimize TOTAL time through the loop Build Measure Learn IDEAS CODEDATA LEARN BUILD MEASURE
- 26. And much more… Build Measure Learn Learn Faster Split Tests Customer Development Five Whys Customer Advisory Board Falsifiable Hypotheses Product Owner Accountability Customer Archetypes Cross-‐funcConal Teams Semi-‐autonomous Teams Smoke Tests Measure Faster Split Tests ConCnuous Deployment Usability Tests Real-‐Cme Monitoring AlerCng Customer Liaison Measure Faster Funnel Analysis Cohort Analysis Net Promoter Score Search Engine MarkeCng PredicCve Monitoring Build Faster Unit Tests Usability Tests ConCnuous IntegraCon Incremental Deployment Free Open-‐Source Cloud CompuCng Cluster Immune System Just-‐in-‐Cme Scalability Refactoring Developer Sandbox Minimum Viable Product IDEAS CODEDATA LEARN BUILD MEASURE
- 27. Validated Learning Entrepreneurs are everywhere Entrepreneurship is management Innovation Accounting Build Measure Learn Lean Startup Principles
- 28. The Three Learning Milestones Innovation Accounting 1. ESTABLISH THE BASELINE - Build a MVP - Measure how customers behave right now
- 29. The Three Learning Milestones Innovation Accounting 1. ESTABLISH THE BASELINE 2. TUNE THE ENGINE - Build a MVP - Measure how customers behave right now - Experiment to see if we can improve metrics from the baseline toward the ideal
- 30. The Three Learning Milestones Innovation Accounting 1. ESTABLISH THE BASELINE 2. TUNE THE ENGINE 3. PIVOT OR PERSEVERE - Build a MVP - Measure how customers behave right now - Experiment to see if we can improve metrics from the baseline toward the ideal - When experiments reach diminishing returns, its time to pivot
- 31. QuesCons
- 32. Stay in touch! contact@theleanway.net Nawras Skhmot Lean Startup Circle Stavanger